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So I think work to work hard is easier than to work smart because of it.
And also it could be risky in the sense that I mean, don’t get me wrong. I think by definition you will not. It’s so competitive nowadays. We have all these millions of people without jobs that you will need to work your arse off like.
But it’s tempting. You know, I a classic like BBC doesn’t mean you are productive or you are making adding value, you know.
So are making are they now making a better job or whatever. So. So then it’s very sometimes easy to get trapped into that. You know, I reply in emails all day or which maybe is fine, that’s what you need to do but are doing, doing stuff that you will earn nothing or very little. And it takes you a lot of time. So then you are feeling your day doing lots of stuff, but you are not making anything out of it. So don’t be, you know, working smart ace. Of course it sounds good, but it’s hard. So I think it’s harder.
It’s counterintuitive. And you need to think and think and test and iterate.
And you will have also less feedback, because when you’re doing stuff you know, you’re doing, you know, you feel at the end of the day, you go to sleep and you can feel that you did stuff. Whereas if you have been thinking, yeah, maybe maybe you don’t need to be thinking the whole day, maybe, but you are not like a two, three hour thinking. Exercise is a lot. It’s very, you know.
Like resource intense from mom, it could be stressful as well. But also, you don’t know if you are if what you are thinking, again is adding value or defeat if you are on to something interesting or not. So then you need to get feedback for that. So the way to get feedback is to talk to people. We’ve talked before about that. Like, go share your ideas with entrepreneurs, investors or anyone else. Ideally, entrepreneurs, investors or people in your industry. Mentors could be as well could be friends. That’s fine. But as long as they are qualified to give an opinion on on what what you are putting forward or just test the market, do, then BP go it. And that’s when you need to work hard into executing your ideas, your planning. So it will need to be a mix of both. And over time, probably, you know, also the way to scale and make more money. Usually it will be very, very rare that you will make a lot of money on your own. So companies are a group of people that you know. So I’m not saying the more people you have in the company, the more money you will make, because that used to be the case. But it’s not anymore because of software.
For example, software business can scale like millions of customers. We’re not that big. I think WhatsApp has like 50 engineers or hundreds of them and they have like four billion users or something like that.
So, of course, software is the Coulier industry, but you will need it. So so your time is limited.
So even if you work hard on smart or let’s say if you work hard, you can work hard for like X hours per day, 16 hours, whatever maximum you sleep, you can do other stuff.
And then the way to get to the next level is by thinking, oh, how you are going to get there. Planning building strategies and building processes.
So you will need to incorporate people, delegate. And of many often times I could in many cases when you delegate, you will earn less.
But that’s fine because you need to have a plan on how you are going to, over time, make more money. So out of that. So you are leveraging on other someone else’s skills, network resources.
And I mean their time especially. So that way you can scale. And how to figure that out with all the economics in place or in your favour. That’s when you need to work smart. I think a lot get to the habit of yet thinking like every day I would say, what’s next?
What are we. How are we doing these? Are we on to something? And then some hard rules that probably, you know, if Gabe put some deadlines, you know.
So if you start something nice not working for three years, maybe just shoot it and start something else. So am I. I’m just saying, three years could be for you, maybe three years.
Is it’s not that much. Or maybe it’s it’s it’s a lot of time. And you will you will you are open or you can afford to give three years to something else. It also depends on what what are your goals. Maybe he’s doing all right, but not as good as you felt.
Or maybe it’s not scalable. So if it’s not, then a good suggestion would be probably to try to convert that mini project or whatever many business you built into a passive income. So try to estimate it or just put one guy to manage it so you will earn less. But there will be a passive income and then you can go into something else. So what was your take on working hard versus smart deadlines and shooting projects?
Kill him. Kill him. No. Yeah, I 100 didn’t agree with all of that. I think the reason that there’s even like a debate or a reason why people hold different opinions on this topic, I think is because fundamentally people look different. People’s mentalities are different. They’re built differently and for different people. And they will struggle with different things. And I think the. They work hard. The hustle, the that kind of message is an important message for those people who tend towards procrastination, who tend towards laziness. Hoo hoo hoo. People who are not natural light is not naturally sort of go getting motivated type people, then having a. Consistent reminder of. To keep your mind on the track of saying like like in order to do anything, you know, in order to achieve anything, you need to work at it. And so that reminded to work at it is an important thing. And so it’s a helpful, useful crutch for someone who has that sort of mental set up to do that, I think. And on the opposite side of that coin, work smart. There are a whole bunch of people who, you know, who have a mentality of like a singular focus, which is like, right, I’m heading in that direction. Head down right away. I go, I’m just going ignore everything else, just like pile through like that. Tremendously hard workers, but they never come up to look around to see where they’ve gotten to. And maybe they’ve, you know, if they were digging a trench, maybe they’re sort of halfway out into the English Channel by that point or, you know. And so and so the opposite idea of like work smart, which is like, okay, hard work is important, but it’s also important to make sure you’re working in the right direction again is a useful tool to remind yourself to to hit the happy medium. And I think that I give way to think of it in a way that I like to try and think of it is that starting businesses and running small businesses, particularly there is a very large element of luck to all of this. Right.
Even with the best idea and even with the hardest work, there is going to be an element of. Have you happen to have chosen something which the market is going to really respond to and they’re going to want to buy and that, you know, this is a huge amount of luck associated with with anything any new endeavour doesn’t have to be business, anything like anything you’re trying to do. There’s a huge amount of luck associated with it. And there are two ways for you to improve your luck. Right. Whether you consider yourself a lucky person or not is completely random. But there’s two ways that you can actively increase your luck. And as this idea of let luck surface area, which is. You want to try and expose yourself to the chance of being lucky as much as possible. And the way you increase your luck surface area is by two ways. One is like generally the heart of the work or the more work that you do, the more chance you have of being lucky, because the more you know, the more goes you get at doing something. The more that one of those things will turn out to be lucky. And that’s the way you go. The other way to be lucky is to be smart about it is to say, like, don’t put all of your efforts into one sort of tiny little channel where, you know, they only give you one chance of being lucky no matter how hard you work. It’s like put your work into. Think about it and say, okay, well, which of the what channels are available to me? Which of those are more likely to be lucky than others. And for what reason. And two. So then by picking multiple sort of routes and also by working hard on those routes and by sensibly and intelligently divvying up the amount of effort you’re putting in between those routes, then you increase the chances of one or two or three of those things becoming lucky and eventually being successful in whatever sort of endeavour that you’re heading towards.
You. I think there’s also something to be said for. WorkI being smart about working hard as well, like working hard does not mean it isn’t. You know, there’s this classic aphorism is it is a marathon, not a sprint.
Right. And that is if you were to set out to run a marathon. The worst thing you can possibly do at the start of the marathon is to take off at top speed off at the start line as fast as your little legs can carry you, because after 200 metres, 400 metres, you’re going to be completely spent. And you’ve got another twenty six and not quite half a miles to complete as part of your marathon. Right. And so part of working hard, but working smart is by saying. Right. Okay. I need to be. I need to be able to sustain this for a long, relatively long period of time. So what is the amount of effort that I can sustain over a longer period of time? And that is not, you know, working all nighters every night. That’s not going crazy about stuff. That’s not, you know, working so hard. You forget to eat or you forget to socialise if you get to sleep well, all those other things that report for sustaining longer term effort, like your best effort over the course of a year, is not working 16, 18 hour days every single day. Your best effort over the course of the year is working eight, 10 hour days, plus good slate plus good food, plus a bit of downtime to let yourself reset and things like that.
And as with all things, you know, moderation is key. The danger lies in taking one thing too simplistically and taking it too far and just going too crazy with it. So, yeah, so. So my my advice there is this too, like if you if you tend towards sort of laziness or procrastination. You know, keep in mind that you do need to put the effort in and you do need to actively, consciously work put in the effort and to to get the best results.
But also, if you are of the tendency to sort of put your head down and bulldoze three things, take the opportunity to come up and think like, am I heading the right direction? Is that other things I can be doing is this was my end goal here. Am I heading towards my goal or am I just heading off in a random direction as fast as I can possibly go? Yeah.
So I think from a practical advice, because to work hard is kind of, you know, what you need to do, then it’s just to put there. But to work smart sometimes you don’t know how to oftentimes most types. So I think like a very basic advice would be just the more information you have, the better. So if you don’t know what to do or whatever, just rape, read stuff, read books, read the news, what’s going on? We talked before about like taking business models that work in one country and take you to another country. So that that’s why being smart in some sense but is not you don’t need to be smart. You just have information. Or when investors have information and they make money, it’s because they just have they’re not smarter than others. They just have more information. So nowadays you can if you know what’s going on, you will be more likely to know the trends. While Tim best source would like to invest on our word, the market can go and you can complement that with your thoughts or what you think or your circle or your ecosystem. And yes, so even if you know nothing about trends or this or that. Just start reading some books or blogs on people that are qualified and have done it before.
Unlearn what they say. Just go read them, understand where they are coming from, what they have built, what they say, and then you can follow them maybe on social media. Yes. So turn your entertainment time into like information research, information gathering or research time. And just by doing that within one, two months, I would say you will be like, well, way better inform my more informed on and you will start seeing things differently. You will start having ideas, fresh ideas on do these, do that and then you can test them. Yeah.
I absolutely agree 100 percent right? That’s it for today. Thanks very much for listening. We’ll be back next week with some more nuggets of knowledge. In the meantime, please do cheque out our YouTube channel, which is where we post this and our other podcasts.
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